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Facebook, the social media giant that has gone through crisis in crisis in recent years, is preparing to unveil its new crypto-currencies, the bitcoin, GlobalCoin, later this month, according to reports.
Prior to the announcement, it was reported that Facebook would relinquish control of the bitcoin rival to "an independent foundation" in an effort to deflect accusations of centralization and appease financial regulators.
Rumors have been circulating about Facebook's plans for a bitcoin rival for months.
Getty
Facebook has collaborated with financial and technology companies in recent months to strengthen the support of its future rival, Bitcoin, was announced for the first time by Tech News Out L & # 39; information, citing people informed about Facebook's plans.
The bitcoin-esque cryptocurrency, which has been linked to a Facebook project called Libra, should target developing countries where traditional currencies are less stable and will function as a "currency without borders," according to the report. Information.
Facebook's bitcoin rival is likely to be a stablecoin, linked to the US dollar, and should be integrated as a payment tool on Facebook's popular email applications, WhatsApp and Messenger, and the Instagram photo-sharing app.
Internet users will also be able to purchase the digital token through ATM machines, according to The Information.
The price of bitcoin, which has recently peaked since the beginning of the year, has not reacted strongly to the latest news in cryptocurrency on Facebook, although it is desperately turned to the traditional finance sector, the global technology giants and the world. regulators are thinking about how to proceed with bitcoin, blockchain and cryptocurrencies.
The price of bitcoin has regained ground after last year 's sale, but it is still far from its record highs.
CoinDesk
Last month, it was reported the& nbsp; Bitcoin-inspired Facebook cryptocurrency will be rolled out for testing by the end of 2018, with the intention of launching it in 2020 in more than a dozen countries around the world …potentially sending shockwaves into the flourishing bitcoin and cryptocurrency sector.
Facebook founder and CEO Mark Zuckerberg met with Bank of England governor Mark Carney to explain how a Facebook version of Bitcoin could work, as well as the risks and regulations involved, reported the BBC.
Zuckerberg& nbsp;who took a very different approach to bitcoin and cryptocurrencies compared to his colleague, social media CEO Jack Dorsey, seems to be more interested in the substitution of bitcoin than in its development.
Facebook's interest in bitcoins and crypto-currencies has excited many in the booming sector, a venture capitalist said the recent & nbsp;the revelations "lit a fire in the pants of each major & nbsp;[financial technology]& nbsp; and financial institution. "
It is thought that Facebook is considering turning to broader financial services since hiring former PayPal president, David Marcus, in 2014, who also became head of the company's blockchain division.
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Facebook, the social media giant that has gone through crisis in crisis in recent years, is preparing to unveil its new crypto-currencies, the bitcoin, GlobalCoin, later this month, according to reports.
Prior to the announcement, it was announced that Facebook would relinquish control of the bitcoin rival to "an independent foundation" in order to deflect accusations of centralization and appease financial regulators.
Rumors have been circulating about Facebook's plans for a bitcoin rival for months.
Getty
Facebook has been working with financial and technology companies in recent months to strengthen the support of its future rival Bitcoin, was first reported by the specialized media The Information, citing people informed of Facebook projects.
Bitcoin-esque cryptocurrency, which has been linked to a Facebook project called Libra, should target developing countries where traditional currencies are less stable and will function as a "currency without borders", according to the report. from The Information.
Facebook's bitcoin rival is likely to be a stablecoin, linked to the US dollar, and should be integrated as a payment tool on Facebook's popular email applications, WhatsApp and Messenger, and the Instagram photo-sharing app.
People will also be able to buy the digital token via ATM-type physical machines, according to The Information.
The price of bitcoin, which has recently peaked since the beginning of the year, has not reacted strongly to the latest news in cryptocurrency on Facebook, although it is desperately turned to the traditional financial sector, the global giants of technology and the world. regulators are thinking about how to proceed with bitcoin, blockchain and cryptocurrencies.
The price of bitcoin has regained ground after last year 's sale, but it is still far from its record highs.
CoinDesk
Last month, it was reported the Bitcoin-inspired Facebook Cryptocurrency will be deployed to be tested by the end of 2018, and is expected to be launched in 2020 in a dozen countries around the world …potentially sending shockwaves into the flourishing bitcoin and cryptocurrency sector.
Facebook founder and CEO Mark Zuckerberg met with Bank of England governor Mark Carney to discuss how a version of Bitcoin on Facebook could work, as well as risks and regulation involved, the BBC reported.
Zuckerberg who has taken a very different approach to bitcoin and cryptocurrencies than his colleague, social media CEO Jack Dorsey seems to be more interested in bitcoin substitution than development.
Facebook's interest in bitcoins and cryptocurrencies has thrilled many booming industry players, a venture capitalist said revelations "ignited a fire in the pants of all the great [financial technology] and financial institution. "
It is thought that Facebook is considering turning to broader financial services since hiring former PayPal president, David Marcus, in 2014, who also became head of the company's blockchain division.
